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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
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